You may know the Algarve as a great holiday destination, but Portugal’s southern region is also a great place to retire.
● El Dorado and Europe’s Florida are just some of the terms used to describe Portugal as a destination for many retirees to live in.
● Be it because of the weather, the culture and the history, the low cost of living or the attractive tax regime, a growing number of retirees have decided to move to Portugal.
● ‘Live and Invest Overseas’ referred to the country’s Algarve region as the Number One retirement destination in the world five years in a row. ‘International Living’ gave Portugal a score of 84.8 out of 100 in its 2015 index of best places to retire. Aldeia Azul Living is located in Lagos, a historic and characterful city situated on the beautiful Western Algarve. It is a city that boasts a rich seafaring heritage and a coastline of dramatic natural scenery. Today, it’s one of the Algarve’s finest holiday destinations, yet still preserving its distinctive character and charm.
● In a universe of about 15,000 votes from all over the world, the municipality of Lagos reached the 7th place in the TOP 10 of the “People’s Choice” category of the Green Destinations.
● For those wanting to hit the beach, at the November 2020 edition of the World Travel Awards, the “Oscars of the tourism industry”, the Algarve was voted World’s Leading Beach Destination for the first time ever. The region also successfully retained the title of Europe’s Leading Beach Destination, an award which it had previously won in 2012, 2013, 2015, 2016, 2017, 2019 and 2021.
The many advantages of living in the Algarve:
● Tax advantages
From the moment you become a Portuguese tax resident, it is up to the Portuguese government to tax your pension. For the first 10 years the Portuguese government will tax you only 10% on your pension income. The same applies to your dividends, capital gains taxes, royalties and real estate rent income. You are exempt from inheritance taxes.
In the Top 3 safest countries in the world, Portugal has in the Algarve a haven of peace and tranquility. Crime rates are low, for those seeking a slower pace of life, there is nothing like the Algarve region.
● Affordable cost of living
On average 30% lower than all major EU economies, the cost of living in Portugal is among the lowest in Western Europe. Even real estate is lower. Your pension will get you much more purchasing power in Portugal than it would in your country of origin. Whether you want to eat at a good restaurant, spend a weekend away or go to shows, there is no shortage of things to enjoy, at relatively cheap prices.
● Perfect weather all year-round
Portugal has one of the most stable climates in the world, being a year-round sunshine destination. The Algarve, in particular, with one of the best climates in Europe, has an average of 300 days of sunshine each year.
● Good infrastructure
Important infrastructure investments have been implemented in recent years, in Portugal. Particularly, investments related to the country’s highway network and airports. This makes it a great base for exploring all of Europe and Northern Africa.
● Health care and lifestyle
The Portuguese health care system is of a high quality and at affordable costs. Besides, public health care is free for residents in the country. Living in the Algarve is a healthy environment, with good eating habits. The abundance of fresh produce is the result of the year-round sunshine and fertile earth.
● World-class Golf
Portugal is a Mecca for golfers. Algarve was elected the best golf destination in the world in 2020 by the International Golf Travel Market (IGTM). Portugal’s Algarve region boasts 42 courses in less than 100 miles and it’s growing.
● Great beaches
The Portuguese Atlantic coastline has alluring bays and extensive sandy beaches; many awarded coveted Blue Flags from the European Blue Flag Association for their excellent environmental standards. The water of these shores is azure and the cliff-top vistas are spectacular. Most beaches have lifeguards during the summer season along with snack bars and restaurants.
● English widely spoken
English is widely spoken in the country. Retirees can easily get by without learning to speak Portuguese.
Portugal ‘Best Tourist Destination in Europe’ in 2017 & 2018 & 2019 (World Travel Awards).
By now you can see that the Algarve is a great place to be. Here are just a few more reasons why people choose to retire here:
● One of the oldest countries in the world with vast historical and cultural heritage.
● Member of the EU, Euro currency and Schengen space.
● Virtually no terrorism.
● No inheritance taxes for tax residents in Portugal.
● Very competitive real estate prices.
● Good international schools.
● Extensive network of private hospitals, clinics and Portuguese government hospital structure.
● Based on the “Global Peace Index”, Portugal is the 3rd safest country in the world, out of 163 countries.
● According to “The Guardian” Newspaper, Portugal is the cheapest western country in the Eurozone.
● Based on the “Forbes” magazine, Portugal is the 9th ‘Best Place to live in the World’.
● One of the lowest crime rates in Europe.
● In 2016, 58% of the power produced in Portugal came from renewable sources.
● 87 golf courses, 3 of which are eligible to receive the European Professional Tour.
● Portugal has the highest ratio of motorways for the size of the country in Europe.
● Portugal ‘Best Tourist Destination in Europe’ in 2017 & 2018 & 2019 (World Travel Awards).
● Portugal enjoys mostly sunny and rather mild weather in winter.
● Hundreds of beaches were awarded Blue Flags by the European Blue Flag Association for their excellent environmental standards.
● The Portuguese are very welcome and English is widely spoken in the country.
● Mediterranean cuisine with very fresh products.
● The Algarve has many excellent shopping malls and complexes. Mar Shopping incorporates an IKEA store and has 85 shops, including the largest Primark in Portugal, 25 restaurants and 8.000 sqm of outside leisure areas.
● There are several low cost airlines as well as national carriers with regular flights to Faro all year round from most major European cities. From further afield, connections are plentiful via the UK or Lisbon.
You deserve the best and this applies to your retirement as well! Explore the sublime environment and sense of community that we offer in Aldeia Azul. Contact us for further information and to find out how fulfilling your life going forward into retirement can be.